In a series of tweets, Vijay Mallya said he had offered to pay back 100% of the principal amount to banks and the government, but his offer was turned down.

New Delhi: Embattled liquor baron Vijay Mallya, who is under investigation for fraud and money laundering, and is a fugitive in London, appealed to Indian authorities Wednesday to “please take” his offer of repaying 100% of the principal amount he owes.

In a series of tweets, he claimed he wasn’t being treated fairly and questioned why this offer of paying back the principal to banks was being refused.

Mallya is accused of defaulting on bank loans to the tune of Rs 9,000 crore, as well as diverting some of the loan amount, by the Enforcement Directorate.

Politicians and Media are constantly talking loudly about my being a defaulter who has run away with PSU Bank money. All this is false. Why don’t I get fair treatment and the same loud noise about my comprehensive settlement offer before the Karnataka High Court. Sad.

For three decades running India’s largest alcoholic beverage group, we contributed thousands of crores to the State exchequers. Kingfisher Airlines also contributed handsomely to the States. Sad loss of the finest Airline but still I offer to pay Banks so no loss. Please take it.

I see the quick media narrative about my extradition decision. That is separate and will take its own legal course. The most important point is public money and I am offering to pay 100% back. I humbly request the Banks and Government to take it. If payback refused, WHY ?

Mallya fled the country for London in March 2016, with investigating agencies claiming he left under suspicious circumstances. His lawyers, however, argue that he left in normal course and before any case was registered against him.

1 COMMENT

Repayment of 100% of principal, with the haircut limited to accumulated interest, is an offer worth taking up. There has been a lot of business failure, not limited to KFA. The banks – and the government controlling them – should be pragmatic. If they are rigid, they will end up sustaining colossal losses on the NPA mountain which is now more than ten trillion. Banks chalana actually sarkar ka kaam hi nahin hai.